Cummins India, one of the leading manufacturers of diesel and natural gas engines, has fixed September 21 as a record date for the purpose of issuing fully paid bonus equity shares in the ratio of 2:5.
The shareholders will get two additional shares for every 5 shares held. Cummins India is a subsidiary of Cummins Inc. The company entered the country in 1962 in a joint venture with Kirloskar. In 1997, Kirloskar sold its stake and Cummins India increased its holding to 51%.
On the Bombay Stock Exchange, shares of Cummins India were trading weak at Rs 600, down 2.53% against their last week's close at IST 11:12.